Underscore VC

“Well, first of all, valuation is just a stunningly stupid concept. Who on earth can value a person? I can't. And at the stage that we're working at, we're valuing people.”

“First of all, we're going to take a chunk of our carry, and we're going to make it accessible to what we call our community, which is the cause.”

“We'll give you a seed check to get the initial team together, but we'll also do something we've called vector funding, which is right. Very clear basis for them, for the entrepreneur to go from seed all the way through to series a and commit to that series a, …”

“The fund has been oversubscribed very quickly. We were able to select the VC, sorry, the LPs who really understood the model and wanted to get behind it. I'm happy to tell you that, you know, that's well over forty billion dollars worth of capital in the found…”

“In many instances, if you're creating something, you're going to start at a latent aspirational level. You really won't have customers begging for what you're doing because you're creating it. They don't know they have that need.”

“In fact, our core members, when they're investing with us, get to watch us and participate in a whole cloud based investing program, because the way in which we do our investments is, you know, we eat our own cooking here. So everything is in the cloud because…”

“I mean, we put five times as much capital in individually as the founders here than would traditionally be the case.”

“11 of them wrote personal checks alongside us, which made it very easy for us to, you know, write our check and commit to the thing.”